<p>Scenario: Mom and Dad are divorced. They have 2 kids. Dad has been claiming son as a dependent on his taxes for years; Mom has been claiming daughter. Mom also has a significantly higher salary than Dad. Daughter is a senior and is ready to fill out the FAFSA. </p>
<p>Question: Can daughter list Dad's lower income to try to maximize potential financial aid awards?</p>
<p>No,</p>
<p>Daughter should be filing out the FAFSA using the income/ assets of the custodial parent. IF she lives with her mother, than that is whose income she should be using. If it is a matter of joint custody where she is living with each parent an equal amount of time then she should be listing the parent who provides the most support (still most likely the mom). She will also have to include any child support she receives from dad.</p>
<p>For the FAFSA it does not matter who claims you on their taxes.</p>
<p>If she is looking for a school that gives large amount of insitutional aid and requires the CSS profile, she will most likely have to submit the non-custodial profile also.</p>